Hong Leong Asia acquires bomb shelter supplier Yong Tai Loong for S$90.7 million

[SINGAPORE] Hong Leong Asia (HLA) has acquired architectural building products supplier Yong Tai Loong for around S$90.7 million in cash.The company on Tuesday (Apr 21) said that it had purchased 100 per cent of the issued and paid-up share capital of Yong Tai Loong – about 20.5 million issued ordinary shares – making the firm its wholly owned subsidiary. The shares were acquired from five individuals who each held a 20 per cent stake in Yong Tai Loong, which manufactures and supplies building components for public and private residential markets in Singapore. HLA said the acquisition, which was funded with external borrowings and internal funds, is aligned with its strategy to enhance its urban solutions capabilities in the built industry, as well as grow its building materials segment in Singapore. Noting Yong Tai Loong’s revenue growth record and market reputation, HLA said the addition of the firm to its building materials portfolio will broaden its capabilities, expand its product offerings, and position it for more growth in the local built environment sector. The group also highlighted that Yong Tai Loong is one of five bomb-shelter suppliers authorised by the Housing & Development Board (HDB), describing it as an “established name” in the market for blast-resistant doors and ventilation sleeves for civil defence shelters in apartments and staircases. Its other products include fire-rated steel doors, metal gates and door frames, as well as refuse chute hoppers.The company has grown its order book on strong construction demand for HDB and private residential projects, which will support a “profitable growth trajectory over the next few years”, HLA said.The group also noted that Yong Tai Loong is poised to meet “the increasing demands of construction projects in Singapore”, as its two main manufacturing facilities in the city-state are equipped with semi-automated processes and robotics machinery.Yong Tai Loong’s net asset value and net tangible assets stood at around S$34.4 million as at Dec 31, 2025, based on audited financial statements. The purchase consideration, fully satisfied in cash on Tuesday, was arrived at following arm’s-length negotiations, as well as on a willing-buyer and willing-seller basis. It took into account Yong Tai Loong’s “strong” track record in revenue growth, future prospects and order pipeline. HLA shares closed Tuesday 1.3 per cent or S$0.04 higher at S$3.17, before the news.